1000-1002 S Ridgeley Dr - Apartments FOR SALE


Los Angeles, CA 90019- Miracle Mile
$2,295,000 USD
310-968-2454
1000-1002 S Ridgeley Dr, Los Angeles, CA for Sale
$2,295,000 USD
Apartments - FOR SALE
1/30
null | 5.5% Cap Rate

1000-1002 S Ridgeley Dr
Los Angeles, CA 90019
Miracle Mile


HIGHLIGHTS

  • 6 spacious 2-bed, 1-bath units, each over 1,000 sq ft, blending modern upgrades with classic Art Deco charm
  • Great Current CAP Rate & GRM – 5.17% & 11.79
  • Prime Miracle Mile location near LACMA, The Grove, and Museum Row—central to dining, shopping, and entertainment

OVERVIEW

Discover an immaculate and rare investment opportunity in the heart of Miracle Mile, one of Los Angeles’ most vibrant and architecturally rich neighborhoods. This beautifully maintained 6-unit apartment building, built in 1947, showcases timeless Art Deco charm while offering updated interiors and strong income potential. Each of the six units features spacious 2-bedroom, 1-bathroom layouts, all exceeding 1,000 square feet. The apartments are thoughtfully updated to meet modern expectations, including refreshed kitchens, hardwood floors, and contemporary fixtures—while retaining the building’s historic character through original moldings, arched doorways, and period details. This perfect blend of old and new enhances tenant appeal and long-term desirability. The building boasts a total living area of 6,726 square feet, situated on a 9,622 square foot lot, offering ample space and comfort. With LAR3 zoning, the property supports multi-family residential use, and may present value-add opportunities for future development, expansion, or ADU additions (buyer to verify). A private driveway and rear parking area further increase its functionality. Located just minutes from Museum Row, LACMA, The Grove, and the Petersen Automotive Museum, this property offers tenants unbeatable access to top-tier cultural institutions, shopping, dining, and entertainment. The neighborhood continues to benefit from ongoing public infrastructure improvements, including the Metro D Line (Purple) extension, which will provide enhanced connectivity to DTLA, Koreatown, and West LA. Whether you’re an investor seeking a high-performing asset in an appreciating market, or an owner-user looking to live in one unit while generating rental income from the rest, this property offers flexibility, stability, and long-term growth potential. It’s a standout in one of Los Angeles’ most sought-after rental markets.

FOR SALE DETAILS

PRICE

$2,295,000 USD

PRICE/SF

$341 USD /SF

# OF UNITS

6

PRICE/UNIT

$382,500

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5085-008-038

ASK ABOUT THIS PROPERTY

Morgan McMullinPartners CREMore Info
310-968-2454

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Morgan McMullinPartners CREMore Info
310-968-2454

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.